>> you know the phrase we use, obama and biden want to raise taxes by $1 trillion. guess what? yes, we do in one regard. >> what exactly would a $1 trillion tax increase do to the economy? our reporter from the "wall street journal" finally, finally, someone in the obama administration admitting letting the bush tax cuts expire is a tax increase. right? >>guest: that is for sure. i don't know why the romney people don't let yes biden do all the talking for them because he makes compelling case against obama. this is the second or third gaffe just this week. we are talking about almost all of the increase on the backs of businesses. it is hard to understand how you create more jobs for this economy if you are putting or taking money out of the pockets of the businesses that create them. joe biden was saying we are proud of the fact we are socking it to the businesses and to the rich people. i find it somewhat offensive, actually. >> is there any way when you raise people's taxes by $1 trillion the middle class is unaffected? >>guest: it is interesting if you look at congressiona